Autodesk, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In millions) |
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| Three Months Ended April 30, | ||||||
| 2020 |
| 2019 | ||||
| (Unaudited) | ||||||
Operating activities: |
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Net income (loss) | $ | 66.5 |
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| $ | (24.2) |
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Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
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Depreciation, amortization and accretion | 30.0 |
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| 32.7 |
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Stock-based compensation expense | 98.2 |
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| 75.2 |
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Deferred income taxes | 3.5 |
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| 24.4 |
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Restructuring and other exit costs, net | — |
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| 0.2 |
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Other operating activities | 32.7 |
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| 15.3 |
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Changes in operating assets and liabilities |
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Accounts receivable | 295.5 |
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| 206.2 |
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Prepaid expenses and other assets | (47.5) |
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| 11.4 |
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Accounts payable and other liabilities | (154.6) |
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| (172.6) |
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Deferred revenue | (1.1) |
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| 62.2 |
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Accrued income taxes | 4.1 |
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| (9.6) |
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Net cash provided by operating activities | 327.3 |
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| 221.2 |
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Investing activities: |
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Purchases of marketable securities | (11.0) |
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| (19.8) |
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Sales of marketable securities | — |
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| 4.6 |
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Purchases of developed technologies | (3.6) |
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| — |
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Capital expenditures | (19.9) |
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| (14.7) |
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Other investing activities | (43.5) |
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| 0.7 |
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Net cash used in investing activities | (78.0) |
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| (29.2) |
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Financing activities: |
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Proceeds from issuance of common stock, net of issuance costs | 56.8 |
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| 46.9 |
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Taxes paid related to net share settlement of equity awards | (32.5) |
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| (25.8) |
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Repurchases of common stock | (202.0) |
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| (88.5) |
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Repayment of debt | (450.0) |
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| (125.0) |
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Other financing activities | (2.5) |
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| — |
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Net cash used in financing activities | (630.2) |
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| (192.4) |
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Effect of exchange rate changes on cash and cash equivalents | (4.1) |
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| (2.4) |
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Net decrease in cash and cash equivalents | (385.0) |
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| (2.8) |
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Cash and cash equivalents at beginning of period | 1,774.7 |
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| 886.0 |
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Cash and cash equivalents at end of period | $ | 1,389.7 |
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| $ | 883.2 |
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Supplemental cash flow disclosure: |
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Non-cash financing activities: |
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Fair value of common stock issued to settle liability-classified restricted stock units | $ | 28.7 |
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| $ | — |
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